Warner Bros. Discovery
Warner Bros. Discovery Beats Investor Suit Over Inflated Subscriber Figures
Warner Bros. Discovery and its top brass will not have to face a lawsuit from investors accusing them of hiding adverse financial information about the company’s prospects leading up to the 2022 merger of Discovery and AT&T’s WarnerMedia. U.S. District Judge Valierie Caproni on Monday found that WBD didn’t overstate subscriber figures and was not […]
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Warner Bros. Discovery Stock Downgraded on Less Favorable M&A, Earnings Outlook, Content Licensing
Wells Fargo analyst Steven Cahall started the week by downgrading his rating on Warner Bros. Discovery shares, which had gained in 2023, from “overweight” to “equal weight” and cutting his stock price target by $4 to $12. “We’re changing our WBD thesis from deleveraging with multiple expansion to lower earnings before interest, taxes, depreciation a1nd […]
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So Long WBD Sports, Hello TNT Sports
Warner Bros. Discovery is embarking on a notable rebrand to one of its core divisions. The company is rebranding its WBD Sports division as TNT Sports, embracing the name of one of its biggest cable channels (and its home for the NBA), and unifying its global sports brands under one name (the company has already […]
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‘The Jennifer Hudson Show’ Renewed for Season 3
Warner Bros. Television Group’s daytime syndicated talker The Jennifer Hudson Show has been renewed for a third season by the Fox Television Stations. Hearst Television also renewed the JHUD Productions, Warner Bros. Unscripted Television and Telepictures-produced series for a third season of syndication from Fall 2024. The announcement for Hudson and her eponymous show was made by […]
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David Zaslav Sells to Cover $9.5M in Warner Bros. Discovery Shares for Tax Purposes
Warner Bros. Discovery CEO David Zaslav has some shares in the studio for tax purposes. The mogul has had approximately $9.5 million in the company’s stock at $11.40 per-share withheld, with the disposal done for tax purposes, according to a Securities and Exchange Commission filing. Zaslav’s move was part of required tax withholding, says a […]
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Tom Cruise Sets Up Shop at Warner Bros. With New Movie Partnership
Tom Cruise is setting up shop on the Warner Bros. lot. In a new strategic partnership that Warner Bros. Discovery chief David Zaslav helped shepherd, Cruise will team with movie studio chiefs Michael De Luca and Pamela Abdy in jointly developing and producing original and franchise theatrical films starring the world-famous actor. Cruise and his […]
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Max Sports Tier Will Be Free Longer Than Expected, As Company Works Through Tech Integrations
Attention sports fans: You will be able to get your NBA, NHL and college basketball included with Max at no extra charge for a few months more. Warner Bros. Discovery says that it is delaying the launch of the paid tier of the service as it works through some technical kinks. “The B/R Sports Add-On […]
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Warner Bros. Discovery Comms Chief Nathaniel Brown Leaving Studio
Nathaniel Brown, chief communications officer at Warner Bros. Discovery, is leaving the Hollywood studio after five years in the post. Brown in an internal memo obtained by The Hollywood Reporter said he “especially loved being in the trenches” after joining Discovery Inc. in 2019 ahead of a merger with Warner Media to create Warner Bros. […]
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Netflix, Spotify, Lionsgate Stocks Jump in 2023, While Disney Ekes Out a Gain
In 2022, the stocks of streaming giant Netflix and most Hollywood giants fell to Earth. In 2023, major media and tech players had another grim year with investors as faith in streaming took another hit, even if their share prices ended the year on a roll, helped by renewed M&A talk. Netflix soared back to […]
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Hollywood’s Elusive Goal This Year: Streaming Profits
“So You’re Sayin’ There’s a Chance.” Wells Fargo analyst Steven Cahall channeled a famous line from Dumb and Dumber in the title of a Nov. 3 report, in which he analyzed how Hollywood giants and their investors started off the final earnings season of 2023 with the hope that it would provide proof that the […]
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Warner Bros. Discovery Acquires Turkish Streamer BluTV
Warner Bros. Discovery has acquired BluTV, a subscription video-on-demand service in Turkey, the company said Friday. Financial terms weren’t disclosed. “The announcement follows three years of extensive partnership, which started in 2021 with the launch of Discovery+ on BluTV and an investment by Discovery Inc. that made the company a 35 percent shareholder of BluTV,” WBD […]
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Warner Bros. Discovery-Paramount Merger? Wall Street Has Major Doubts About a Deal
Wall Street’s Hollywood observers got a pre-holiday surprise this year when news broke that Warner Bros. Discovery CEO David Zaslav has explored a potential deal for Paramount Global in a meeting with its CEO Bob Bakish and chair Shari Redstone, who controls the firm through family holding company National Amusements. Shares of Warner Bros. Discovery […]
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